MONTREAL, August 28th, 2024 — Aplantex, the innovative Quebec-based start-up specializing in extracting high-value plant molecules from its proprietary biomass, announces the closing of a $2.8M CAD Round of Financing led by Frederic Perrault, with participation of the Circular Innovation Fund (CIF) through its Acceleration Program, Cycle Momentum, Investissement Québec and a number of angel investors. This funding will accelerate the development of the company’s strategic and production plan.
Cycle Momentum’s contribution to this financing round is through the Origo program, in the form of a co-investment with the Circular Innovation Fund, a member of the Circle of Partner Funds.
“The Aplantex team is proud of the support from Frederick Perrault, the Circular Innovation Fund, Cycle Momentum and Investissement Québec to scale our green biotechnology. We are accelerating our production and commercialization efforts, consolidating our position in key industries. The valuable lessons from our participation in Cycle Momentum’s 2023 Climate Innovation Super Cohort and the 2023 CIF Accelerator Program have also contributed to our success.” Patrick Charest, B. Sc., Eng., CEO of Aplantex.
With its innovative and sustainable approach to creating high-value molecules, Aplantex is uniquely positioned to be a leading pharmaceutical, cosmetics, natural health, and food additive supplier. Leveraging its proprietary biomass, Aplantex can ensure continuous production of essential plant-active ingredients for these industries while having a positive and sustainable impact on the environment.
“The brainpower, focus, energy, open mindedness, and listening skills of the Aplantex team are impressive. By helping current buyers of high-value plant-based molecules circumvent growing supply chain disruptions and significantly reduce their environmental footprints, the Aplantex solution is a real game-changer.” Frederick Perrault, strategic advisor, lead investor and Board member.
“Supporting the growth of our local start-ups is critical to bringing new innovative initiatives to market. With its green biotechnology process, Aplantex delivers a solution that will help key industries increase productivity in an environmentally responsible way. ” Pierre Fitzgibbon, Minister of Economy, Innovation and Energy, Minister Responsible for Regional Economic Development and Minister Responsible for the Metropolis and the Montréal Region.
“The Circular Innovation Fund is dedicated to scaling solutions that work to mitigate climate change and circular resource use. In addition to funding, we are excited to collaborate with Cycle Momentum through the Acceleration Program to provide services and expertise to the most talented start-up entrepreneurs to bring more innovative solutions to the market.” Stéphane Villecroze, Co-founder and Managing Partner at Demeter.
“Aplantex brings a bold vision for local and sustainable production of key ingredients for the pharmaceutical, cosmetics and food industries, to reduce supply chain logistics and GHG emissions. We’re proud to join the Circular Innovation Fund and other investors in supporting this innovative Quebec climate tech start-up as it prepares to commercialize its first products.” Jennifer McDonald, Senior Vice President of Investments, Cycle Momentum.
“Through Impulsion PME, Investissement Québec is proud to support young, innovative companies like Aplantex, which are helping to make their industries greener and more sustainable. By focusing on the circular economy and advanced technologies, the company is acquiring the means to pursue its growth and development and become a supplier of choice for key sectors of our economy. ” Bicha Ngo, President and CEO of Investissement Québec.
Thanks to Environnement Québec for supporting the Origo program as part of the plan pour une économie verte 2030.
About Circular Innovation Fund
The Circular Innovation Fund (“CIF”) is a global venture capital fund focused solely on circular innovation. It is a joint venture between leading cleantech capital managers – Paris-based Demeter and Montreal-based Cycle Capital. The fund invests in growth-stage companies from North America, Europe and Asia developing breakthrough new materials, circular packaging, recycling and waste innovations, logistics, as well as eco-efficient processes & design, and circular business models.
For more information on the Circular Innovation Fund, visit: www.circularinnovationfund.com.
About Cycle Momentum
Cycle Momentum is an international acceleration and innovation platform whose mission since 2015 has been to identify and support the development of cutting-edge technologies to address humanity’s major ecological challenges. A member of the Cycle Capital platform, Cycle Momentum offers acceleration and open innovation programs to support entrepreneurial growth, financing and commercialization of climate technologies. We establish the necessary collaborations between industrial leaders and start-ups to accelerate the commercialization of their solutions. Cycle Momentum invests through Origo, an investment matching program supported by the Government of Quebec.
For more information on Cycle Momentum, visit: https://cyclemomentum.com/
About Aplantex
Aplantex’s scientific team has developed a unique process for the local production of high value-added active plant ingredients, highly prized by major players in many sectors. The heart of this green biotechnology process is the continuous production, in a controlled environment, of plant biomass from proprietary photosynthetic plant replicators. This abundant biomass is then dried, and the extraction, fractionation and purification stages enable us to isolate the specific molecules essential to many of the leading products in the pharmaceutical, cosmetics, and food industries.
For more information on Aplantex, visit: https://aplantex.ca
Source : Buisnesswire
